Bitcoin Forms Cup-Shaped Recovery Toward Key Resistance Levels

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Bitcoin is forming a cup-shaped recovery pattern after a deep correction from the $114,000 area. The price has rebounded strongly from the $107,000 support zone, confirming buyer strength. It is now trading around $110,000, moving above the Ichimoku cloud — a signal of early bullish reversal.

If Bitcoin maintains its upward momentum and stays above the $109,200–$110,000 support, it could reach the first target near $111,000, which aligns with a key resistance level. A breakout above this zone may open the way toward the second target around $114,000, completing the bullish recovery.

However, if price fails to hold above the red rising trendline, a short-term pullback toward $108,000–$107,000 support could occur before another upward push. Overall bias remains bullish as long as the structure holds above the support zone.

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